AUTODESK, INC. ANNOUNCES FISCAL 2023 SECOND QUARTER RESULTS

 

Autodesk, Inc.




Condensed Consolidated Statements of Cash Flows




(In millions) (1)









Six Months Ended July 31,


2022


2021


(Unaudited)

Operating activities:




Net income

$               332


$               271

Adjustments to reconcile net income to net cash provided by operating activities:




Depreciation, amortization and accretion

76


72

Stock-based compensation expense

322


266

Deferred income taxes

(43)


26

Lease-related asset impairments

9


Other

(11)


9

Changes in operating assets and liabilities, net of business combinations:




Accounts receivable

281


293

Prepaid expenses and other assets

(25)


(158)

Accounts payable and other liabilities

(199)


(151)

Deferred revenue

(77)


(71)

Accrued income taxes

26


(19)

Net cash provided by operating activities

691


538

Investing activities:




Purchases of marketable securities

(97)


Sales and maturities of marketable securities

245


4

Capital expenditures

(23)


(36)

Purchases of developed technologies

(5)


(8)

Business combinations, net of cash acquired

(96)


(1,155)

Other investing activities

(47)


9

Net cash used in investing activities

(23)


(1,186)

Financing activities:




Proceeds from issuance of common stock, net of issuance costs

67


65

Taxes paid related to net share settlement of equity awards

(92)


(62)

Repurchases of common stock

(708)


(199)

Net cash used in financing activities

(733)


(196)

Effect of exchange rate changes on cash and cash equivalents

(23)


(4)

Net decrease in cash and cash equivalents

(88)


(848)

Cash and cash equivalents at beginning of period

1,528


1,772

Cash and cash equivalents at end of period

$           1,440


$              924





Supplemental cash flow disclosure:




Non-cash financing activities:




Fair value of common stock issued to settle liability-classified restricted common stock

$                   5


$                 —

Fair value of common stock issued related to business combinations

$                 10


$                  3

____________________

(1) In the current fiscal year, the Company changed its rounding presentation to the nearest whole number in millions of reported
amounts, except per share data or as otherwise noted. The current year rounding presentation has been applied to all prior year
amounts presented and, in certain circumstances, this change may adjust previously reported balances.


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